Prime Minister requested Ministry of Finance to start working out Budget Law for 2008

In short time, the Ministry of Finance (MF) is to begin working out the draft Budget Law for 2008, and, and urged by PM Vasile Tarlev, to realistically plan the incomes and the expenses for the efficient utilisation of the public financial resources. Vasile Tarlev participated in the session of the MF collegium, within the frameworks of which he requested the strengthening of the treasury system and that of the discount via transfer. In his opinion, such measures would increase the financial discipline and would reduce the flow of money in the black economy. MF is also to work out an efficient and de-bureaucratised mechanism of annual reports on the use of public financial resources, as well as of presenting annual statements by companies. The tax policy is to be revised with a view to reducing the tax burden. Moreover, a more efficient system of natural and legal entities’ income taxation is to be established. At the same time the MF has to work out proposals for the liquidation of the companies’ historical debts to the budge. While working out of the National Development Plan, the MF is to ensure the programme’s provisions with intern financial resources. According to the PM, as result of the efficient implementation of the Budget Law for 2006, which has been fulfilled at a 101.7% level, the incomes of the national public budget exceeded the incomes of 2005 by more than MDL 3.3 bln. At the same time, an essential improvement of the budgetary incomes’ quality has been reached by attaining tax revenues of 56%. Thus, the incomes from customs duties constituted only 38%.